Free FHA Loan Calculator Online
Use this free FHA loan calculator to estimate your monthly payment on an FHA-insured mortgage. Enter the home price, down payment, interest rate, and loan term to see a full PITI breakdown including the upfront and monthly mortgage insurance premiums that make FHA loans unique.
Total Monthly PITI
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How This FHA Loan Calculator Works
This FHA loan calculator starts with your home price and down payment to determine the base loan amount. It then adds the upfront MIP (1.75% of the loan) to your financed balance, since most FHA borrowers roll this fee into the loan. The calculator computes principal and interest using standard amortization, then layers on the monthly MIP, property taxes, and homeowners insurance for your total PITI payment.
For example, a $350,000 home with 3.5% down ($12,250) creates a base loan of $337,750. Adding the 1.75% upfront MIP ($5,911) brings the financed amount to $343,661. At 6.5% over 30 years, the principal and interest payment is $2,173. Monthly MIP adds roughly $155, property taxes add about $321, and insurance adds $146 — bringing total PITI to around $2,795 per month.
The FHA loan calculator displays a pie chart showing exactly where each dollar of your payment goes, helping you understand the true cost breakdown of an FHA mortgage compared to a conventional loan.
FHA Loan Requirements at a Glance
FHA loans are backed by the Federal Housing Administration, making them accessible to borrowers with lower credit scores. The FHA loan calculator helps you plan for all associated costs.
3 Things to Know Before Getting an FHA Loan
Lifetime MIP
With less than 10% down, FHA mortgage insurance stays for the life of the loan. On a $300,000 FHA loan, that is about $1,650 per year — or roughly $49,500 over 30 years. Many borrowers refinance into a conventional loan once they build 20% equity to drop this cost.
Property Standards
FHA loans require the property to meet minimum safety and habitability standards through an FHA appraisal. Issues like peeling paint, broken windows, or safety hazards can delay or block approval. Budget for potential repairs if buying an older home with an FHA loan.
Debt-to-Income Limit
FHA guidelines generally cap your total debt-to-income ratio at 43%, though some lenders allow up to 50% with compensating factors. Your total housing payment (PITI + MIP) should not exceed 31% of gross income. Use the FHA loan calculator to check if your target home fits these guidelines.
Frequently Asked Questions
Disclaimer: This FHA loan calculator is for educational and estimation purposes only. Actual FHA loan terms, MIP rates, and eligibility requirements may vary. Contact an FHA-approved lender for personalized loan terms and qualification details.
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